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If it was my company I would have driven to Washington in a car my own company produced! They are so rich that they could forgo their salaries for a year as a goodwill gesture. We all know that most CEO's are simply parasites looking out for #1. After all the good years of sales the big 3 still cannot be fiscally responsible. I hope they are allowed to fail as payback for all the competition they destroyed and the innovation they suppressed.
Ford and Chrysler's CEOs are imports. They are just opportunists whose only connection to the company is the salary they are currently deriving. For these guys it really doesn't matter what the business is, the company's history, nor its importance to the overall economy of the area where it is located. They make their money by meeting the metrics used to construct their compensation package.
It is a shame that a company like Ford with a rich history of building the automobile industry in the US and providing a world standard for automotive manufacturing and retail sales is in such a dire state.
Given the state of the stock market, in many cases, one of the best options for survival would be to take the company private and put it in the hands of an entrepreneur who truly understands how to differentiate the product and whose passion is focused on the product not just his/her compensation package.
CEO salaries should be based on production and nothing else. that way they have an interest in getting the companies to operate at the highest levels. if they have what it takes they produce and make good money and if they don't they find another line of work more suitable. now they can do a lousy job and still make great money as corporate welfare cases.
I don't think we should bailout "the big 3" totally- We should however give them some of the money their asking for and see what changes they make in their operation. If they do not make any changes for the betterment of their company and the employees then they will not be eligible anymore aide.
Voting yes on bailouts means NO in 2010. If you vote yes you will voted out. Non one is bailing out ny 401k.
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